p/e=8 only, page-11

Let me prefix this by saying that I looked at CAB overnight and am less inclined to buy now than I was yesterday. (I came very close)

ABCGuy - it does strengthen Cabcharge's position in the industry, definitely.
However, as petepan pointed out, the return on invested capital drops significantly. It's almost like taking all the competitive risk out of the industry, but paying little more than a term deposit.

Assuming payments to networks/operators drop to 1%, the return still isn't amazing.

If I were a larger fund manager, I'd consider the position. But the amount of funds at my disposal is very small and I can afford to be very selective. Taking a position in CAB would effectively lead me to surrender this advantage.

I think a CTE or SCD would offer a greater return given total funds to work with...
(Do your own research!)